IDEAS home Printed from https://ideas.repec.org/a/iaf/journl/y2024i2p164-172.html
   My bibliography  Save this article

Romanian Nuclear Energy and Hydropower - A CSR Perspective

Author

Listed:
  • Nicoleta-Elena Cristea

    (Bucharest University of Economic Studies, Bucharest, Romania)

  • Antonio-Alexandru Popescu-Cristea

    (Bucharest University of Economic Studies, Bucharest, Romania)

Abstract

As part of corporate social responsibility, companies must demonstrate an active social position, be in constant dialogue with society and take an active part in developing the country and solving its urgent problems. Given the ongoing war between Russia and Ukraine and restrictions on the import of energy carriers from Russia, the activities of companies in the energy sector of Romania require close attention to determine their efficiency and the level of their corporate social responsibility. This research inquiry is: To what extent and in what manner do Romanian corporations from nuclear energy and hydropower engage in CSR activities? In this study, we examined the sponsorship activities of Romania's two largest electricity-producing companies: Nuclearelectrica and Hidroelectrica. Data for the study was obtained from those two companies' financial and non-financial reports, their websites and the Minister of Finance from Romania's online platform. We extracted all the sponsorship paid by the companies and split them into activity types from our perspective. According to the study's results, in 2023, the priority areas of funding for Hidroelectrica's corporate social responsibility activities were health care - 41% (506,419 euro), culture - 21% (266,286 euro), and sports - 17% (218,498 euro). Much less funds were allocated to education, the social sphere, and other areas. It is unclear from the publicly available data whether the sponsorships included in the other category benefited local communities. Instead, Nuclearelectrica in 2023 provided the largest sponsorship for education with 41% (984,587 euro), health with 26% (627,685 euro) and the environment with 17% (410,043 euro). Significantly less funds were allocated to other areas. Both companies contributed to the good of local communities through their sponsorship and activities. However, Hidroelectrica must use its funds more rationally to maximize its positive impact on nature and social life. Funding events, the purpose of which is difficult to understand, can reduce public trust in the company.

Suggested Citation

  • Nicoleta-Elena Cristea & Antonio-Alexandru Popescu-Cristea, 2024. "Romanian Nuclear Energy and Hydropower - A CSR Perspective," Oblik i finansi, Institute of Accounting and Finance, issue 2, pages 164-172, June.
    • Handle: RePEc:iaf:journl:y:2024:i:2:p:164-172
    DOI: 10.33146/2307-9878-2024-2(104)-164-172
    as

    Download full text from publisher

    File URL: http://www.afj.org.ua/pdf/1075-atomna-energetika-ta-gidroenergetika-rumunii-perspektiva-korporativnoi-socialnoi-vidpovidalnosti.pdf
    Download Restriction: no
    File URL: http://www.afj.org.ua/en/article/1075/
    Download Restriction: no
    File URL: https://libkey.io/10.33146/2307-9878-2024-2(104)-164-172?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Ivan Stevovic & Jovana Jovanovic & Sabahudin Hadrovic, 2023. "Sustainable Economy Of Non Renewable Resources And Conflict With Environment," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 3, pages 119-126, June.
    2. Krystyna Bakhtina & Jan Willem Goudriaan, 2011. "CSR reporting in multinational energy companies," Transfer: European Review of Labour and Research, , vol. 17(1), pages 95-99, February.
    3. Paula Anzola-Román & Teresa Garcia-Marco & Ferdaous Zouaghi, 2024. "The Influence of CSR Orientation on Innovative Performance: Is the Effect Conditioned to the Implementation of Organizational Practices?," Journal of Business Ethics, Springer, vol. 190(1), pages 261-278, February.
    4. Catalin Popescu & Eglantina Hysa & Alba Kruja & Egla Mansi, 2022. "Social Innovation, Circularity and Energy Transition for Environmental, Social and Governance (ESG) Practices—A Comprehensive Review," Energies, MDPI, vol. 15(23), pages 1-28, November.
    5. Baccini, Leonardo & Urpelainen, Johannes, 2012. "Legislative fractionalization and partisan shifts to the left increase the volatility of public energy R&D expenditures," LSE Research Online Documents on Economics 45571, London School of Economics and Political Science, LSE Library.
    6. Flöter, Thomas & Benkenstein, Martin & Uhrich, Sebastian, 2016. "Communicating CSR-linked sponsorship: Examining the influence of three different types of message sources," Sport Management Review, Elsevier, vol. 19(2), pages 146-156.
    7. Siv Skard & Helge Thorbjørnsen, 2014. "Is Publicity Always Better than Advertising? The Role of Brand Reputation in Communicating Corporate Social Responsibility," Journal of Business Ethics, Springer, vol. 124(1), pages 149-160, September.
    8. Thomas Flöter & Martin Benkenstein & Sebastian Uhrich, 2016. "Communicating CSR-linked sponsorship: Examining the influence of three different types of message sources," Sport Management Review, Taylor & Francis Journals, vol. 19(2), pages 146-156, April.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Habitzreuter, Anna Mei & Koenigstorfer, Joerg, 2021. "The impact of environmental CSR-linked sport sponsorship on attitude toward the sponsor depending on regulatory fit," Journal of Business Research, Elsevier, vol. 124(C), pages 720-730.
    2. Kang, Taeahn & Matsuoka, Hirotaka, 2023. "The negative effect of CSR-CSI domain overlap in CSR-linked sport sponsorship," Journal of Business Research, Elsevier, vol. 156(C).
    3. Ráthonyi-Ódor, Kinga & Bába, Éva Bácsné & Ráthonyi, Gergely, 2019. "Responsible Behavior And Environmental Protection – In Case Of Football Clubs," APSTRACT: Applied Studies in Agribusiness and Commerce, AGRIMBA, vol. 13(1-2), June.
    4. Park, Sangchul & Ahn, Sungsook & Kim, Sanghoon, 2024. "Sport event vs. art event? The effect of CSR-linked sponsorship event type on product purchase," Journal of Retailing and Consumer Services, Elsevier, vol. 77(C).
    5. Maximilian Gasser & Simon Pezzutto & Wolfram Sparber & Eric Wilczynski, 2022. "Public Research and Development Funding for Renewable Energy Technologies in Europe: A Cross-Country Analysis," Sustainability, MDPI, vol. 14(9), pages 1-28, May.
    6. Photini Vrikki, 2024. "Measuring Up? The Illusion of Sustainability and the Limits of Big Tech Self-Regulation," Sustainability, MDPI, vol. 16(23), pages 1-17, November.
    7. Stephanie Watts & Laurie Giddens, 2017. "Credibility assessment for sustainable consumption: A laboratory study," Cogent Business & Management, Taylor & Francis Journals, vol. 4(1), pages 1356608-135, January.
    8. de Almeida, Israel Nunes & Palazzi, Rafael Baptista & Klotzle, Marcelo Cabus & Pinto, Antonio Carlos Figueiredo & Gomes, Leonardo Lima, 2024. "Beyond hype: Unveiling the herd effect in ESG and non-ESG cryptocurrency portfolios," Finance Research Letters, Elsevier, vol. 65(C).
    9. Diana Joița & Mirela Panait & Carmen-Elena Dobrotă & Alin Diniță & Adrian Neacșa & Laura Elly Naghi, 2023. "The European Dilemma—Energy Security or Green Transition," Energies, MDPI, vol. 16(9), pages 1-16, April.
    10. Menno D. T. Jong & Mark Meer, 2017. "How Does It Fit? Exploring the Congruence Between Organizations and Their Corporate Social Responsibility (CSR) Activities," Journal of Business Ethics, Springer, vol. 143(1), pages 71-83, June.
    11. David Popp, 2015. "Using Scientific Publications to Evaluate Government R&D Spending: The Case of Energy," NBER Working Papers 21415, National Bureau of Economic Research, Inc.
    12. Juan Francisco De Negri & Simon Pezzutto & Sonia Gantioler & David Moser & Wolfram Sparber, 2020. "A Comprehensive Analysis of Public and Private Funding for Photovoltaics Research and Development in the European Union, Norway, and Turkey," Energies, MDPI, vol. 13(11), pages 1-23, May.
    13. Archana Saxena & Rajesh Singh & Anita Gehlot & Shaik Vaseem Akram & Bhekisipho Twala & Aman Singh & Elisabeth Caro Montero & Neeraj Priyadarshi, 2022. "Technologies Empowered Environmental, Social, and Governance (ESG): An Industry 4.0 Landscape," Sustainability, MDPI, vol. 15(1), pages 1-17, December.
    14. Ioannis Ioannou & George Kassinis & Giorgos Papagiannakis, 2023. "The Impact of Perceived Greenwashing on Customer Satisfaction and the Contingent Role of Capability Reputation," Journal of Business Ethics, Springer, vol. 185(2), pages 333-347, June.
    15. Patrick Hartmann & Paula Fernández & Vanessa Apaolaza & Martin Eisend & Clare D’Souza, 2021. "Explaining Viral CSR Message Propagation in Social Media: The Role of Normative Influences," Journal of Business Ethics, Springer, vol. 173(2), pages 365-385, October.
    16. Mantas Svazas & Yuriy Bilan & Valentinas Navickas & Małgorzata Okręglicka, 2023. "Energy Transformation in Municipal Areas—Key Datasets and Their Influence on Process Evaluation," Energies, MDPI, vol. 16(17), pages 1-20, August.
    17. Enkeleda Lulaj & Blerta Dragusha & Eglantina Hysa, 2023. "Investigating Accounting Factors through Audited Financial Statements in Businesses toward a Circular Economy: Why a Sustainable Profit through Qualified Staff and Investment in Technology?," Administrative Sciences, MDPI, vol. 13(3), pages 1-28, March.
    18. Jun Fan & Lijuan Peng & Tinggui Chen & Guodong Cong, 2024. "The role of social impact on consumer attitudes toward green and healthy home appliances during the COVID-19 pandemic," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 26(11), pages 28063-28105, November.
    19. Ouidade Sabri, 2018. "The Detrimental Effect of Cause-Related Marketing Parodies," Journal of Business Ethics, Springer, vol. 151(2), pages 517-537, August.
    20. Djaballah, Mathieu & Hautbois, Christopher & Desbordes, Michel, 2017. "Sponsors’ CSR strategies in sport: A sensemaking approach of corporations established in France," Sport Management Review, Elsevier, vol. 20(2), pages 211-225.

    More about this item

    Keywords

    sustainability reports; CSR; ESG; sponsorship; nuclear energy; hydroelectricity;
    All these keywords.

    JEL classification:

    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:iaf:journl:y:2024:i:2:p:164-172. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Serhiy Ostapchuk (email available below). General contact details of provider: https://edirc.repec.org/data/iafkvua.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.